Question

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✨ PLZ SOLVE ✨

✨Find the amount and the compound interest on 12800 for one year at 15/2 per annum compounded half yearly✨

Answer 1

We know that : Amount in Compound Interest is given by :

✿  $\bold{Amount = Principal(1 + \frac{Rate\;of\;Interest}{100})^n}$

Where : n is the Number of Conversion Periods

Given : Principal = 12800

Given : The Amount is Compounded Half Yearly

⇒ Number of Conversion periods in a Year = 2

Given : Rate of Interest $\bold{= \frac{15}{2}}$

⇒ Rate of Interest for One Conversion Period $\bold{= \frac{15}{4}}$

$\bold{\implies Amount = 12800(1 + \frac{15}{400})^2}$

$\bold{\implies Amount = 12800(1 + \frac{3.75}{100})^2}$

$\bold{\implies Amount = 12800(1 + 0.0375)^2}$

$\bold{\implies Amount = 12800(1.0375)^2}$

$\bold{\implies Amount = 12800(1.07640625)}$

$\bold{\implies Amount = 13778}$

We know that : Compound Interest = Amount - Principal

$\bold{\implies Compound\;Interest = (13778 - 12800)}$

$\bold{\implies Compound\;Interest = 978}$

Answer 2

Hey ,

Refer to the attachment...